Obasanjo Criticizes Tinubu Administration’s Policy Implementation

Former President Olusegun Obasanjo has criticized the implementation of two out of three key policies by the administration of President Bola Tinubu, deeming them necessary but poorly executed.

Speaking at the Paul Aje Colloquium themed “Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity” in Abuja over the weekend, Obasanjo also addressed the handling of the military coup in Niger.

“Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to the impoverishment of the economy and Nigerians.

These are the removal of subsidies and closing the gap between black market and official exchange rates. The third is dealing with the military coup in Niger Republic,” Obasanjo stated.

He emphasized that the solution lies in boosting production and productivity, coupled with restoring belief and trust in government leadership. “There are no shortcuts to economic progress but hard work and sweat.

The economy does not obey orders, not even military orders. If we get it right, in two years, we will begin to see the light beyond the tunnel,” he added.

Obasanjo pointed to a lack of confidence and trust from investors as a major issue. “Total Energy has gone to invest 6 billion dollars in Angola instead of Nigeria.

The present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.

Existing investors are disinvesting and leaving the country; how do we persuade new investors to rush in?” he questioned.

The former president called for a shift from transactional leadership to transformational and genuine servant leadership.

“We have to present ourselves in such a way that we will be taken seriously,” he said.

Reflecting on Nigeria’s current situation, Obasanjo urged both the government and the governed to examine the past and present critically.

“How did we get here? Our economy has consistently suffered from poor policies, lack of long-term sustainable policies, discontinuity, adhocry, and corruption rooted in personal greed, avarice, incompetence, lack of knowledge and understanding, and lack of patriotism,” he noted.

He recalled his efforts in 2007 to privatize the refineries, which were later reversed. “The same statements and proposed actions given forty-five years ago to stop fuel scarcity are being touted today,” he lamented.

Proposing a solution, Obasanjo suggested that Nigeria needs “a 25-year socio-economic development agenda” that is generally agreed upon and passed into law.